The Fed experiment of new normal/low long rates is working, well, sort of. The economy on main street suffers from tight money in this system, but it did under the gold standard as well. But to say that the Fed avoids crashes is not really true. The Great Recession and Great Depression were liquidations, by the Fed. The private Fed bank has really hurt the prosperity of middle class America, almost systematically.

I don't see driverless cars navigating a freeway or being safe around children, ever.

If trade wars are deflationary, won't the USD, at some point in the future, rally? Maybe not against the Yen but against most other currencies?

Symmetry would bring prosperity to main Street. But that surely can't be what the Fed wants. It isn't in the nature of most capitalists to want worker prosperity.

Besos wanted to sell coke. He is one of the world's wealthiest guys if you don't count shadowy banking families. Yet he has no class. He is as gentrified as a Beverly hillbilly without the humor.

So, Pete Peterson would have said social welfare included entitlement programs also funded by the people. Those programs put money into the economy. For example, the vast majority of people do not hoard social security. Medicare helps to employ doctors and nurses, vital to the wellbeing of all citizens.

Good info, but they aren't confused. They want growing GDP as long as it doesn't filter down to main street. They want wages subdued.

I have to object, Breaking Bad. Carol has a handle on the misuse of AI that comes with false hype.

One could even add that business also is afraid to expand, content with what it has achieved, because it has no confidence in the economy, either.

Gold standard brutally affected all but the most wealthy. So do low bond rates, which must stay low. Gold is no better than bonds as gold.